Accounting (#s Fourth Quarter & Full Year 2025 Earnings Conference Call February 26, 2026 LGTMs: Date: Andrew T. (Input) 2/24 (via Jessie) Peter K. 2/24 Karen S. (Legal) 2/24/26 confirm) LGTM 2.24.26 Disclaimer This presentation and the accompanying oral presentation include forward-looking statements, including, without limitation, statements regarding future events and Clover Health Investments, Corp.'s ("Clover Health," "we," "our," or "us") expectations regarding GAAP Net Income, Adjusted EBITDA, Adjust ...

Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling over 350 points, the Dow down 0.55% to 48,922.97, the NASDAQ down 1.58% to 23,335.70, and the S&P 500 down 1.06% to 6,889.76 [1] - Energy shares increased by 2%, while information technology stocks decreased by 1.3% [1] Retail Sales and Economic Indicators - U.S. retail sales rose by 0.6% month-over-month in November, marking the largest increase since July, compared to a revised 0.1% drop in October [2][10] - The U.S. current account deficit decreased by 9.2% to $226.4 billion in Q3, against market expectations of a $238 billion gap [10] - U.S. producer prices increased by 0.2% month-over-month in November, consistent with market expectations [10] Commodity Market - Oil prices rose by 1.3% to $61.97, gold increased by 0.5% to $4,622.10, silver surged by 4.8% to $90.560, and copper rose by 0.3% to $6.0345 [5] European and Asian Markets - European shares were mostly higher, with the eurozone's STOXX 600 up 0.19%, Spain's IBEX 35 up 0.43%, London's FTSE 100 up 0.28%, Germany's DAX down 0.40%, and France's CAC 40 up 0.10% [6] - Asian markets closed mixed, with Japan's Nikkei up 1.48%, Hong Kong's Hang Seng Index up 0.56%, China's Shanghai Composite down 0.31%, and India's BSE Sensex down 0.29% [7] Company-Specific Movements - High Roller Technologies, Inc. shares surged by 289% to $13.64 after announcing a partnership with Crypto.com [9] - Clover Health Investments Corp shares rose by 10% to $2.78 following a year-over-year increase in membership growth [9] - Inspire Veterinary Partners Inc shares increased by 78% to $0.041 after filing to increase its authorized common stock [9] - Briacell Therapeutics Corp shares fell by 53% to $5.09 after pricing a public offering at $5.59 per unit [9] - Plus Therapeutics Inc shares dropped by 39% to $0.29 after announcing a public offering priced at $0.38 per unit [9] - Hub Cyber Security Ltd shares decreased by 39% to $0.33 following a reverse stock split announcement [9]

Core Insights - Clover Health Investments, Corp. reported a 53% year-over-year growth in Medicare Advantage (MA) PPO plans for the 2026 plan year, reaching approximately 153,000 members, indicating disciplined growth in core markets and strong retention [1][5] - The company anticipates achieving its first-ever full year GAAP Net Income profitability in 2026, driven by strong cohort economics and operational efficiencies [5][4] Key AEP and Business Highlights - Clover's AEP performance reflects the effectiveness of robust plan benefits, Clover Assistant-enabled clinical performance, and a deepening market presence, leading to market-leading growth [3][4] - The company maintained stable plan benefits year-over-year, achieving over 95% member retention during the AEP, reinforcing the stability of its membership base [5] - Over 97% of Clover's January 1, 2026 membership is in its flagship PPO plan, which is ranked 1 nationally on core HEDIS metrics for the second consecutive year, showcasing the company's commitment to clinical quality [4][5] Strategic Growth Initiatives - Clover's growth strategy focuses on concentrated efforts in established core markets, leveraging strong Clover Assistant coverage and a differentiated Home Care offering to enhance care delivery and improve cohort performance [5][4] - The company expects significant improvements in new member cohort performance, supported by a 4.0 Stars rating for its PPO plans, favorable CMS rate updates, and continued operational leverage as SG&A efficiency improves with scale [5][4]

Core Insights - Clover Health Investments, Corp. reported a 53% year-over-year growth in Medicare Advantage (MA) PPO plans for the 2026 plan year, reaching approximately 153,000 members, indicating disciplined growth in core markets and strong retention [1][4][5] - The company anticipates achieving its first-ever full year GAAP Net Income profitability in 2026, driven by strong cohort economics and operational efficiencies [5][4] Key AEP and Business Highlights - Clover's AEP performance reflects the successful integration of robust plan benefits, Clover Assistant-enabled clinical performance, and a deepening market presence, leading to market-leading growth [3][4] - The company maintained stable plan benefits year-over-year, achieving over 95% member retention during the AEP, which reinforces the stability of its membership base [5][4] - Over 97% of Clover's January 1, 2026 membership is in its flagship PPO plan, which is ranked 1 nationally on core HEDIS metrics for the second consecutive year, showcasing the company's commitment to clinical quality [4][5] Strategic Growth Initiatives - Clover's growth strategy focuses on concentrated growth in established core markets, leveraging strong Clover Assistant coverage and a differentiated Home Care offering to enhance member care [5][4] - The company expects significant improvements in new member cohort performance, supported by a 4.0 Stars rating for its PPO plans, favorable CMS rate updates, and continued operational leverage as SG&A efficiency improves with scale [5][4] - Clover aims to enhance Clover Assistant coverage and primary care provider (PCP) adoption to further drive member engagement and retention [5][4]

Company Overview - Clover Health is a health care insurance plan focused on improving health care for seniors in Medicare Advantage through a differentiated vision and approach [2] - The company utilizes technology to enable earlier diagnosis and treatment of chronic diseases, aiming for better quality of care and health outcomes at a lower total cost [2] Technology and Innovation - Clover Health's software platform, powered by AI, allows physicians to perform at the top of their license, enhancing the overall care delivery process [3] - The technology has been developed over the last decade using large data sets and machine learning, resulting in dozens of patents related to its proprietary clinical platform [3] Market Potential - The Medicare Advantage market is substantial, exceeding $500 billion annually, with over 35 million seniors currently enrolled [3] - Clover Health primarily focuses on the PPO segment of Medicare Advantage, with nearly 100% of its members enrolled in PPO plans [4]

Fourth Quarter & Full-Year 2024 Earnings Conference Call February 27, 2025 LGTMs: Date: Andrew T. LGTM via email 2/26/25 Peter K. LGTM 2/26/25 Legal (Karen / Peter R.) 2/26/25 Accounting (#s review) 2/25/2025 Disclaimer This presentation and the accompanying oral presentation include forward-looking statements, including, without limitation, statements regarding future events and Clover Health Investments, Corp.'s ("Clover Health," "we," "our," or "us") expectations regarding Adjusted EBITDA, Adjusted Net i ...